Answer a few short questions to find out if your program qualifies you for a Laurel Road in-school student loan!
Laurel Road offers low rates.
Upload your documents to apply for a loan.
Lower rates means greater savings.
How do we stack up against other lenders? Compare our rates to Federal PLUS loan rates and fees to find out. Also, Laurel Road doesn’t charge origination or prepayment fees, saving you even more—and helping you along the path to greater financial freedom.
*For a limited time, Laurel Road is offering a 0.40% rate discount on the advertised rates in the table above for graduate school loan applications received from July 1, 2019 up through July 16, 2019. This offer cannot be combined with any other referral offer or other membership bonus or discount.
GRADUATE SCHOOL – RATE DETAILS, TERMS, AND CONDITIONS
Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. Mortgage lending is not offered in Puerto Rico. All loans are provided by KeyBank National Association.
As used throughout these Terms & Conditions, the term “Lender” refers to KeyBank National Association and its affiliates, agents, guaranty insurers, investors, assigns, and successors in interest.
In-School Graduate Student Loan Examples:
|Fixed Rate In-School Loan Repayment Example|
|Output||Term||Full Deferral||Minimum Payment||Interest Only||Full Repayment|
|Variable Rate In-School Loan Repayment Example|
|Term||Full Deferral||Minimum Payment||Interest Only||Full Repayment|
Assumptions: All repayment examples assume the student loan borrower is enrolled in an eligible program at an eligible school; the student loan borrower will successfully complete an expected 24-month in-school period followed by a 6-month grace period; a certified loan amount of $10,000 disbursed in two equal $5,000 amounts four months apart; and a 0.25% Automatic Payment Discount.
Annual Percentage Rate (APR): This term represents the actual cost of financing to the borrower over the life of the loan, incorporating in-school deferment or payment features of the product selected by the borrower.
Regular Installment Amount: This term represents the fully amortizing payment billed monthly to the borrower during the repayment term. Within the Repayment Examples, high and low APRs and Regular Installment Amounts are calculated for 5-year and 20-year Repayment Terms.
Automatic Payment Discount: Borrowers are eligible for a 0.25% interest rate discount in return for setting up automatic payments using Electronic Funds Transfer (EFT) directly from a bank account. This discount only applies during periods in which payments are required of the borrower. Borrowers will lose the Automatic Payment Discount if automatic monthly payments are no longer received from the designated bank account.
Student Repayment Options: Student borrowers can select one of four available Repayment Options that determine the required payment amount, if any, while the student is enrolled. The Repayment Options include: (1) Full Repayment, (2) Interest Only, (3) Flat Payments, and (4) Full Deferral. You can reference our FAQs for more details on each Repayment Option.
Stated interest rates for variable rate loans are based on the one-month London Interbank Offered Rate (“LIBOR”), as published in The Wall Street Journal on the twenty-fifth day of the preceding calendar month or, if this day falls on a weekend or US federal holiday, the preceding business day of the preceding calendar month. Regular Installment Amounts for variable rate loans paid between July 1, 2019 and July 31, 2019 will include the one-month LIBOR rate 2.40%, as of July 1, 2019.
Rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
The lowest APRs and Regular Installment Amounts require, at a minimum, enrollment in an eligible program at an eligible school; creditworthy applicants; selection of a Repayment Term of 5 years; selection of a Repayment Option of Full Repayment; and the 0.25% Automatic Payment Discount. The maximum variable rate is 12%.
Stated Interest Rates: All stated interest rates vary based on applicable loan terms and a variety of factors that include credit history, current outstanding debts, degree program, time remaining until graduation, and other factors.
Eligibility: A student loan borrower must be a U.S. Citizen or Permanent Resident with a valid permanent I-551 card (a conditional I-551 card will not be accepted), enrolled in good standing on at least a half-time basis (as defined by the Eligible Institution) in an Eligible Program at an Eligible Institution, and meet KeyBank National Association underwriting criteria including, for example, credit score, employment (if a co-signer is required), and credit history requirements.
Please note: Due to federal regulations, KeyBank National Association is required to provide every potential borrower with disclosure information before they apply for a private student loan. The borrower will be presented with an Application Disclosure and an Approval Disclosure within the application process before they accept the terms and conditions of their loan.
*Disclaimer: Subject to additional terms and conditions provided in Application Disclosure and Approval disclosure.
KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
This information is current as of July 1, 2019 and is subject to change.